Key Details:

Investment Highlights:

  • 1.1Moz gold JORC Code-reported Mineral Resource at Wa Gold Project, NW Ghana
  • 100% of 3,100km2 licences hosting over 150km of prospective Birimian greenstone belt. Less than 10% explored
  • Feasibility Study underway for multi-pit 1.0Mtpa mining and gravity / CIL operation
  • Large pipeline of drill-ready targets
  • Aggressive multi-rig exploration programmes focused on resource inventory increase
  • Board and management team of successful explorers, mining and corporate professionals

Issued Capital:
214.40M ord. shares
12.50M unlisted options

Directors & Management:

Chairman:
   Michael Atkins

Managing Director:
   Stephen Stone

Non-Executive Director:
   Geoff M Jones

Project Study Manager:
   Alan Thompson

Company Secretary:
    Dennis Wilkins

Contact details:

Stephen Stone
Mb: +61 (0) 418 804 564
stone@azumahresources.com.au

Suite 1, 2 Richardson Street
West Perth WA 6005
Tel: +61 (0)8 9486 7911
Fax: +61 (0)8 9481 4417

Bepkong Resource

The 50km2 Kunche-Bepkong district is part of Azumah's Wa Gold Project in north west Ghana. These licences encompass some 150 strike kilometres of prospective Birimian greenstone – the same rocks that are host to a majority of Ghana’s major gold deposits.

Bepkong was a ‘blind’ discovery arising from the follow-up of strong gold-in-soil anomalism, and Azumah's drilling results confirm that there is every opportunity to discover and delineate additional resources in the district.

  • Maiden JORC Code reported Indicated and Inferred Mineral Resource estimate for Bepkong deposit of 2,970,000 tonnes grading 2.2g/t gold for 212,000 ounces
  • 40% of contained gold in Indicated category grading 2.5g/t gold
  • Entire Mineral Resource is contained between surface and 175m depth
  • 25% is oxide mineralisation grading 3.0g/t gold
  • Further north-south trending, high-grade vein-hosted mineralisation announced in September 2010, approximately 300m south of the main Bepkong preliminary optimised pit perimeter. Better intercepts (4m composited samples) included:
    • 4m at 38.9g/t gold from 104m (BRC179), and
    • 4m at 3.86g/t gold from 8m (BRC170)
  • New zone of mineralisation announced in July 2010. Best intercepts include:
    • 8m at 4.06g/t gold from 36m (BRC157);
    • 4m at 3.03g/t gold from 28m (BRC154);
    • 12m at 1.67g/t gold from 24m (BRC155)
  • Mineral Resource remains open along strike to the south, to its immediate west and at depth.

More information can be found in our recent ASX Announcements.

Bepkong Prospect – Latest RC Drilling
Please see our September 1, 2010 ASX Announcement for more information.

Bepkong RC Drilling


Bepkong Prospect: Indicated and Inferred Mineral Resource Estimate

Category Weathering Tonnes
Gold
g/t
Contained
Ounces

Gold
Indicated Oxide 270,000 3.0 26,000
  Fresh 760,000 2.3 56,000
  Total 1,040,000 2.5 82,000
Inferred Oxide 240,000 3.0 23,000
  Fresh 1,700,000 2.0 107,000
  Total 1,930,000 2.1 130,000
Total   2,970,000 2.2 212,000
  1. The Bepkong Mineral Resource estimate is quoted for blocks with a grade of greater than 0.8 g/t gold.
  2. Differences may occur due to rounding errors.
  3. Details of the Bepkong Mineral Resource estimation appear in Appendix 1

Appendix 1: Notes to Bepkong Gold Deposit Mineral Resource Summary Report

The resource is quoted for blocks with a grade of greater than 0.8 g/t. Differences may occur due to rounding errors.

  • The Bepkong gold deposit is part of the Wa Gold Project in Ghana. The deposit is located 2km to the north of the Kunche resource
  • A total of 51 Aircore holes were drilled into the Bepkong project area, with a further 86 RC holes and 6 diamond core holes additionally drilled. Of these, one aircore hole, 37 RC holes and all diamond holes penetrated the Bepkong mineralisation, as defined by the resource model
  • All RC and diamond core collars were surveyed by DGPS. The aircore collars were surveyed by had held GPS
    Down hole surveys were measured at approximately 30 metre intervals, by single shot camera
  • Wireframed domains capturing gold mineralisation within an envelope encapsulating samples of greater than 0.5g/t gold were modelled. A total of six separate wireframes were modelled and formed the basis for the resource estimate
  • Wireframed surfaces representing the “top of fresh rock” (TOFR) and “bottom of complete oxidation” (BOCO) were modelled
  • A block model was constructed for each deposit using wireframed mineralisation and weathering domains. A block size of 5m (X) x 25m (Y) x 20m (Z) was constructed, with subcells used to honour the wireframe surface fluctuations
  • All drill samples were composited to one metre lengths
  • Grade was estimated into each model using ordinary kriging (OK). A hard boundary was utilised at the TOFR weathering surface ensuring samples located above this surface could only be used to estimate similarly situated blocks, and vice-versa
  • A top cut of 25g/t was applied to the composited data located in the weathered profile, above the TOFR surface. A top cut of 20g/t was applied to samples located below the TOFR
  • Log variograms were modelled from sample data constrained within the mineralised wireframes. The sample populations were not split at the TOFR weathering surface
  • Bulk densities were assigned according to the weathering profile of the block model. No bulk density data was available, but was set according to standardised values according to the rock and weathering type, as agreed between CSA and Azumah. All blocks located in the oxidised weathering profile were assigned a bulk density of 1.9  t/m3; blocks located in the transitional profile were assigned 2.3 t/m3, and blocks located in the fresh rock domain assigned a bulk density of 2.7 t/m3.

Table A presents the extents of the modelled resource.

Table A.  Extents of mineralisation zone
Easting Northing Elevation
Min Max Min Max Min Max
527,070 527,240 1,151,120 1,152,400 100 275

The reported resource has been classified as a combination of Indicated and Inferred. The Indicated portion of the Mineral Resource is supported by at least two holes drilled per section, with the section lines no more than 50 metres apart. Resource blocks were deemed to be Inferred where the continuity of mineralisation and geology was assumed but not verified. The classification is supported by a sound level of QAQC checks on assay data, and verified drill hole collar positions and down hole surveys.